Minor currency pair

The FCA instrument says a minor foreign exchange pair is a pair of two different currencies whose exchange rates are traded in the foreign exchange market and which is not a major foreign exchange pair. The handbook does not split that group again into crosses and exotics. For a UK retail CFD, spread bet or rolling spot FX contract, a minor pair sits in the 5% initial-margin band together with gold and a major stock index. That is a conduct rule about margin, not a forecast of how the pair will move.